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Trump appeals New York fraud verdict, $464 million judgment

Trump appeals New York fraud verdict, $464 million judgment

 


Lawyers for former President Donald Trump formally filed a notice Monday announcing they are appealing the $464 million civil fraud judgment against him and his company.

Trump's lawyers said in a filing that they want an appeals court to determine whether Judge Arthur Engoron made errors of law and/or fact, and whether he abused his discretion and/or or had exceeded its jurisdiction when it issued the massive judgment against Trump and his company earlier this month.

The $464 million figure includes prejudgment interest accrued on Engoron's award of more than $350 million to Trump and the Trump Organization.

The order also bars Trump from running businesses in New York for three years.

The sanctions came after a months-long trial over claims by New York Attorney General Letitia James that Trump and his company's top executives engaged in fraud for years by significantly overstating their assets on financial documents in order to obtain rates on bank loans and insurance policies that they would not otherwise have been eligible for.

The ruling was officially handed down Friday, giving Trump a 30-day window to appeal. If Trump wants to stay the judgment, he will either have to post bail for the full amount or ask a judge to agree to a freeze or reduced amount. If this does not happen within the 30-day period, James' office may begin seizing his assets.

In the meantime, the reward will continue to increase by $114,000 per day due to interest.

The court filing made no mention of bail.

“We are confident that the Appellate Division will overturn this egregious fine and take the necessary steps to restore public confidence in New York's legal system,” Trump lawyer Alina Habba said in a statement.

James' office did not immediately respond to NBC News' request for comment.

Trump was handed an $83 million defamation verdict last month in federal court in New York, where he faces the same issue. This judgment was officially recorded on February 8.

In a court filing Friday, Trump's lawyers asked the judge presiding over the case to extend the time he has to post bail until 30 days after his post-trial motions to reduce bail are decided. the magnitude of the verdict.

In the alternative, President Trump requests that this Court grant a partially secured stay of execution until 30 days after the resolution of the post-trial motions and authorize President Trump to post bail in the amount corresponding to an appropriate fraction of the judgment amount, the filing states. .

In a ruling over the weekend, U.S. District Judge Lewis Kaplan said he would not rule on the issue until he hears from attorneys for Trump-defamed writer E. Jean Carroll.

“The Court refuses to grant a stay, much less an unsecured stay, without first giving the plaintiff a meaningful opportunity to be heard,” the judge wrote. Kaplan gave Carroll's lawyers until Thursday to respond, and Trump's lawyers two days later to file a response.

Adam Reiss

Dareh Gregorian

Brittany Kubicko contributed.

Sources

1/ https://Google.com/

2/ https://www.nbcnews.com/politics/donald-trump/trump-appeals-464-million-judgment-new-york-civil-fraud-case-rcna140492

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